SOURCE: Randgold Resources

March 29, 2007 05:02 ET

Randgold Resources Limited Reports Significant Rise in Reserves and Resources

Jersey, Channel Islands -- (MARKET WIRE) -- March 29, 2007 --

RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD

RANDGOLD RESOURCES REPORTS SIGNIFICANT RISE IN RESERVES AND RESOURCES

London, United Kingdom, 29 March 2007 - London and Nasdaq listed gold miner Randgold Resources' latest resource and reserve declaration, published today as part of its annual report for 2006, shows that the company discovered more than a million new reserve and resource ounces during the past year.

Main contributor to the increase was the company's Loulo project, where resources rose from 9.93 million ounces to 11.35 million ounces and reserves from 5.59 million ounces to 6.80 million over the last year. Most of this increase was attributable to the Gara deposit, where the underground reserve was almost trebled through drilling. The recently identified Faraba satellite target has contributed a new inferred resource of 570 000 ounces.

At the attributable level, measured, indicated and inferred resources rose from 11.67 million ounces at the end of 2005 to 12.55 million, while proven and probable reserves increased from 5.42 million ounces to 6.29 million, net of depletion of some 400 000 ounces by mining through the year.

RESOURCE AND RESERVE DECLARATION (abridged)
                            Tonnes    Grade   Gold      Attribu
                              (Mt)    (g/t)  (Moz)        table
MINE/PROJECT     Category     2006     2006   2006         gold
                                                          (Moz)
MINERAL RESOURCES                                              
Morila                                                      40%
   Measured and Indicated    30.04     2.61   2.52         1.01
                 Inferred     3.09     3.31   0.33         0.13
Loulo                                                       80%
   Measured and Indicated    61.77     4.64   9.22         7.37
                 Inferred    22.77     2.91   2.13         1.70
Tongon                                                      75%
   Measured and Indicated                                      
                 Inferred    35.96     2.69   3.11         2.33
       Total Measured and    91.81     3.98  11.74         8.38
                Indicated                                      
           Total Inferred    61.81     2.80   5.57         4.17
ORE RESERVES                                                   
Morila                                                         
      Proved and Probable    26.71     2.49   2.13         0.85
Loulo                                                          
      Proved and Probable    49.14     4.30   6.80         5.44
Total Proved and Probable    75.85     3.66   8.93         6.29

Since the year-end, ongoing diamond drilling at Gara, up to 400 metres south of the current wireframe, has confirmed the presence of additional high grade gold mineralisation associated with a blind antiformal fold closure of the host quartz tourmaline unit. Results to date are:

 
GARA DRILLING RESULTS
Hole No.   From    To   Inter-section Estimated Grade Including
           (m)    (m)       width (m)     true  (g/t)          
                                      width (m)                
LOCP120   757.40 763.20          5.80      4.58  9.16    2.9m @
                                                       16.66g/t
                                                           from
                                                        759.10m
LOCP124   551.75 558.75          7.00      5.35 17.95    1.8m @
                                                       59.56g/t
                                                           from
                                                        556.00m
LOCP125   795.14 806.70         11.56      8.41  1.53          
          820.35 826.50          6.15      4.51 11.22          
LOCP126   566.25 581.53         15.28     10.81  2.25          
including 566.25 571.00          4.75      3.36  5.54   0.83m @
                                                       28.10g/t
                                                           from
                                                        566.25m
          591.80 598.20          6.40      4.53 10.37   1.15m @
                                                       31.90g/t
                                                           from
                                                        592.75m

Drilling continues to further define the dimensions of this high grade payshoot, which is open at depth and along strike. Once modelling has been completed, the Gara underground mining schedule and design will be reviewed. Underground development is due to start at Gara in 2009 while the Yalea underground mine will produce its first ore later this year. The Gara and Yalea open-pit mines have been in operation since the last quarter of 2005.

Chief executive Mark Bristow said the sustained growth in the company's resource and reserve base showed the success of Randgold Resources' strategy of creating value through discovery and development.

"Loulo was originally conceived as an open-pit operation with a relatively short life but through continued exploration we have already built it into a truly world class project with a production profile that extends beyond 15 years. And as the latest drilling results from Gara indicate, there is still a considerable potential for growth at this project," Bristow said.

"Like our other mine Morila, Loulo is the product of our own exploration efforts. Because we maintained our investment in exploration through the trough in the gold price cycle, we have been able to build production in time to benefit from the current high price. The underground mines being developed at Loulo, the tangible upside there and our other projects such as the feasibility-stage Tongon give our continued growth prospects real substance."

RANDGOLD RESOURCES ENQUIRIES:
Chief Executive   Financial Director Investor & Media Relations  
Dr Mark Bristow   Roger Williams     Kathy du Plessis            
+44 779 775 2288  +44 791 709 8939   +27 11 728 4701             
+44 788 071 1386                     Cell: +27 83 266 5847       
                                     Email:                      
                                     randgoldresources@dpapr.com 
Website: www.randgoldresources.com

DISCLAIMER: Statements made in this document with respect to Randgold Resources' current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Randgold Resources. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Randgold Resources cautions you that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore you should not place undue reliance on them. The 2005 annual report notes that the financial statements do not reflect any provisions or other adjustments that might arise from the claims and legal process initiated by Loulo against MDM. Other potential risks and uncertainties include risks associated with: fluctuations in the market price of gold, gold production at Morila, the development of Loulo and estimates of resources, reserves and mine life. For a discussion on such other risk factors refer to the annual report on Form 20-F for the year ended 31 December 2005 which was filed with the United States Securities and Exchange Commission (the 'SEC') on 29 June 2006. Randgold Resources assumes no obligation to update information in this release. Cautionary note to US investors: the 'SEC' permits companies, in their filings with the 'SEC', to disclose only proven and probable ore reserves. We use certain terms in this release, such as "resources", that the 'SEC' does not recognise and strictly prohibits us from including in our filings with the 'SEC'. Investors are cautioned not to assume that all or any parts of our resources will ever be converted into reserves which qualify as 'proven and probable reserves' for the purposes of the SEC's Industry Guide number 7.

                      This information is provided by RNS
            The company news service from the London Stock Exchange